Private equity investor Actis has completed the acquisition of Haryana-based Acme Solar’s 400 MW PV assets in the states of Andhra Pradesh and Madhya Pradesh.
The overall energy outlay of Rs 6984.73 crore for the year 2020-21 is much lower than 2019-20’s revised estimate of Rs 11,639 crore.
The state—which commissioned an aggregate 3530.74 MW solar capacity as of May 31, 2020—will set up the new plants to ensure nine hours of free power supply to the agriculture sector.
The New Delhi-based developer posted a Rs136 crore loss from October to the end of December but has managed to shift current liabilities into the long grass as it aims to continue on an expansionist trail, backed by the Canadian pension fund which holds almost half its shares.
Capacity additions for the current fiscal year are set to exceed the previous accounting period’s 8,532 MW. With Rs405 billion invested in clean energy in the last fiscal year, spending in the first nine months of 2019-20 has been estimated at Rs367 billion.
The proposed model is said to perform better at energy prediction than software tools such as PVWatts, PVSyst or RetScreen. The approach was validated on two 5 MW PV plants in the same district of the Indian state of Rajasthan.
Bidders are required to supply and commission 1500V, 2.5 MW outdoor/containerised power conditioning units for two floating solar projects at NTPC. In all, 19 units are to be supplied—10 for 25MW (AC) NTPC Simhadri and 9 for 22MW (AC) for NTPC Kayamkulam. Bidding closes on February 4.
Mumbai investor Edelweiss Group will gain a controlling stake in the generation assets in a deal which Engie says will allow it to reduce its debt by Rs3,160 crore.
Ratings may be downgraded if there is a persistent delay in resolving the tariff related dispute or any adverse revision in the tariffs by the state regulator and/or continued delays in receipt of payments from DISCOMs.
Norwegian analyst Rystad Energy has predicted the stop on PV tenders in Karnataka will see Rajasthan become India’s leading solar state this year. The market research firm expects India to add only 10 GW new solar in 2020, however, and the same figure in 2021.
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